Israel’s Delek Drilling and Avner Oil Exploration, both subsidiaries of Delek Group, have completed the previously announced merger.The two companies on Wednesday received a merger certificate from the Registrar of Partnerships, thus fulfilling all the preconditions for the merger to take place.The companies have said the aim of the merger is “simplifying the holding structure.”Following the merger, the merged entity will continue operating under the Delek Drilling name, while Avner, formed in 1991, will cease to exist.Delek Drilling and Avner Oil Exploration, prior to the merger, have held stakes in large Israeli gas fields – the producing Tamar, and Leviathan – Israel’s largest gas discovery, and Aphrodite in Cyprus.According to Reuters, the newly merged company will start trading next week, and will have a market value of $4.4 billion.Offshore Energy Today Staff
THE first of six junior chess tournaments, planned by the Guyana Chess Federation (GCF) and sponsored by DDL TOPCO juices, is set for tomorrow at the National Aquatic Centre, Liliendaal, Greater Georgetown. Admission is free for all players and registration starts at 9:00hrs at the same venue on tournament day.The GCF successfully clinched a renewed sponsorship package earlier this week with beverage giant, Demerara Distillers Ltd (DDL) under its TOPCO juices brand for the junior competitions.DDL TOPCO juices has committed $320,000 to the chess body to cover prizes for the six competitions and Sharda Veeren-Chand, DDL Marketing Director, was pleased to disclose the approval of the sponsorship.The company played a dominant role in the sponsorship of tournaments previously. The six junior tournaments will be staged by the GCF during November and December, 2019.Frankie Farley, president of the GCF, thanked DDL for its involvement and the important role of the company in the development of local chess.“Your generous contribution will be instrumental in making our vision a reality by helping to offset part of the cost associated with the implementation of the various planned initiatives,” Farley asserted.The upcoming one-day tournament consists of 12 rounds. Each player will be allotted 10 minutes plus 5 seconds increment per round. Interested players can contact Rashad on 658-3004, Davion on 656-4032 or Anthony on 613-2083 for more information.